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20130216
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again. >> president obama used his bully pulpit this week to call on congress to avoid, get this, sequestration. that's washington nomenclature for automatic spending cuts due to go into effect on march 1, next friday. on that date, both military and domestic programs will feel the impact of the monumental $85 billion cuts slated for this year, 2013, alone. not only does the president condemn the cuts, but his administration is also sounding the alarm. first, the secretary of state. >> but in these days of the looming budget sequester that everyone actually wants to avoid, or most, we can't be strong in the world unless we are strong at home. my credibility as a diplomat, working to help other countries create order is strongest when america at least puts its own fiscal house in order, and that has to be now. >> next, the secretary of defense. >> members of congress need to understand that they were elected to protect the public, not to hurt the public. and i hope they will remember that as they hopefully work towards a resolution of this issue. >> the president and his cabinet a
&p 500 up 0.1%. in washington, this week's theme was the middle class. president obama underlined that in his state of the union address as did republicans in their response. there is wide-spread agreement america needs to do more to ease the anxieties of middle class families. but as darren gersh reports, solutions that help workers climb into the middle class and stay there are easy to talk about, but hard to implement. >> reporter: it may not solve all the problems, but a rapidly growing economy is a good place to start when it comes to creating middle class jobs. a tight labor market makes it possible for workers to demand raises and better benefits. which is why former obama adviser jared bernstein thinks economic austerity is the wrong medicine to take right now. >> you have public governments across europe and the united states sort of pulling out their fiscal supports too soon and that's hurting the middle class. >> reporter: of course conservatives consider bloated public spending a burden that threatens long-run economic growth which would hurt the middle class. and that
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